Quratis Proposes 9:1 Reverse Stock Split to Offset Deficit

Reverse stock split: 9 shares consolidated into 1; shares outstanding reduced from 115,449,781 to 12,827,753 (88.9% reduction); capital decreased from KRW 57.7B to 6.4B
Purpose: Offset accumulated deficit and improve financial structure
Board attendance: 2 outside directors 100% attendance; 1 non-executive director resigned and new appointment
Contract with largest shareholder (InventageLab) for long-acting injectable manufacturing facility worth KRW 6.891B (6.3% of total assets)
Pipeline: TB vaccine QTP101 in phase 2b/3; mRNA COVID-19 vaccine QTP104 phase 1 completed; schistosomiasis vaccine QTP105 in phase 1b
CDMO: Osong BioPlant operational; plan to provide LNP manufacturing and CDMO services